Korean suppliers cut PP block copolymer prices to Indonesia

Indonesian buyers reported to have received fresh offers for Korean PP block copolymer this week with up to $60/ton reduction from initial prices in May, reaching $1080/ton CIF Indonesia, LC AS term.

A trader informed, “Our customers are still placing small quantity amid firmer domestic ground. Trading activities might fade in the coming week as the Eid al-Fitr holiday is near; however we hope to see better condition in July.”

As reported earlier, Indonesian government has implemented preferential duties rate on import petrochemical products from South Korea as part of the ASEAN – South Korea Free Trade Agreement, which read 0% custom duties for PP block copolymer and 5% for homo-PP and PE. Since then, South Korean suppliers are seen more active in this market.